Category: Investments

Around 1,600 people from all over Africa and Japan gathered over six days to explore closer business ties at the Third Japan-Africa Business Forum, which this year attracted the highest number of participants since its launch. The conference was organized by the Asia External Representation Office of the African Development Bank, in coordination with the African Diplomatic Corps in Tokyo, the Japan External Trade Organization, the Japan International Cooperation Agency, the United Nations Development Programme and United Nations Industrial Development Organization. It took place in a hybrid format between 29…

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The African Development Bank, rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable), has launched and priced a $2.75 billion 5-year Global Benchmark bond due 22 July 2026, its second of the year. With this latest issue, the African Development Bank continues to carry out its funding strategy of issuing large liquid benchmark transactions and adds another on-the-run reference in the 5-year maturity while extending the Bank’s outstanding USD curve. With the final order book closing in excess of $4.2 billion and 82 investors participating, the Bank set the size of the…

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Global credit rating agency Fitch Ratings has affirmed the African Development Bank’s credit rating at ‘AAA’, with a stable outlook. Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders. Fitch views the Bank’s risk-management policies as ‘conservative’ and assesses them as ‘excellent’, in line with AAA-rated peers. “Concentration risk is ‘low’, with the bank’s five largest exposures accounting for 32% of total banking portfolio at end-2020.” Bajabulile “Swazi” Tshabalala, Vice President for Finance and Chief Finance Officer of the African Development Bank, said: “The affirmation of the Bank’s…

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The African Development Bank’s Fashionomics Africa initiative and Google held a 2-hour virtual masterclass on using digital tools and social media for African fashion entrepreneurs. The online session, on 2 July, aimed to equip African fashion entrepreneurs with tools to plan and execute a digital marketing strategy; how to use social media and e-mail effectively; and creating a digital presence using Google digital tools. Building a brand and engaging with customers and potential customers is one of the key challenges faced by African entrepreneurs, particularly the youth and women. “We…

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The 2021 African Economic Conference (AEC), jointly organized by the United Nations Development Programme (UNDP), the African Development Bank (AfDB), and the Economic Commission for Africa (ECA) will be held in Cabo Verde, as well as virtually, from 2 to 4 December 2021. Since its inception in 2006, the AEC series has fostered dialogue and the exchange of knowledge on a variety of issues and challenges facing Africa. The theme of this year’s conference is: Financing Africa’s post Covid-19 Development. Three sub-themes are particularly considered: 1.     Domestic public and private resource mobilization in the…

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The Covid-19 pandemic has provided the impetus for a stronger partnership between India and Africa with potential benefits to both as they build back sustainably after the crisis, experts attending the 16th CII-Exim Bank Digital Conclave on India-Africa Project Partnership affirmed. Speaking at the virtual event’s opening, Subrahmanyam Jaishankar, India External Affairs Minister said the two sides must reinforce collaboration in public health, digital delivery, capacity building, and the green economy – “our goals must be to use these new tools and practices for better delivery on the ground.” “India…

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Le Conseil d’administration du Groupe de la Banque africaine de développement a approuvé, le 14 juillet à Abidjan, un financement de 60 millions d’euros en faveur de la Tunisie pour la mise en œuvre du Programme d’appui à la relance économique et à l’inclusion sociale. Cette opération a pour principal objectif de soutenir la dynamique de relance économique par l’amélioration du climat de l’investissement, la préservation de l’emploi et la promotion de l’inclusion sociale à travers de nouveaux mécanismes de réponse aux défis sociaux, exacerbés par la pandémie de Covid-19.…

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Urging unity and action to accelerate nutrition targets amid the global Covid-19 pandemic, representatives of the African Development Bank, the Aliko Dangote Foundation and Big Win Philanthropy renewed their commitment to end child stunting and other forms of malnutrition through the Banking on Nutrition Partnership. The partners convened during a high-level panel discussion held on 8 July, organized by the African Development Bank. They shared lessons learned, experiences, achievements of the Banking on Nutrition Partnership since its inception five years ago. They also discussed its implementation within the African Development…

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The Sustainable Energy Fund for Africa (SEFA) approved seven high-impact projects worth $54 million in 2020, its best year in spite of challenging Covid-19 conditions, according to its recently released 2020 Annual Report. SEFA, managed by the African Development Bank, focuses on green baseload, green mini-grid, and energy efficiency investments. The Fund, founded in 2011, transformed into a Special Fund on 31 October 2019. The report, titled Building Foundations for Success, also details the Fund’s success in attracting increased donor funding. SEFA secured commitments worth $90 million from existing and…

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A jumbo road interchange financed by the African Development Bank Group has opened in the Ghanaian capital, Accra, amid hopes the new infrastructure will help reduce road fatalities, ease mobility and spur trade within Ghana as well as with its neighbors. Ghana’s President Nana Akufo-Addo commissioned the Pokuase Interchange – an array of swirling highways – at a ceremony held Friday 9 July, attended by government ministers, diplomats, transport operators, members of parliament and traditional chiefs draped in colorful regalia. The four-tier interchange — the first of its type in…

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